[SMM Analysis] Cobalt Intermediate Product Prices Slightly Declined After the Holiday

After the holiday, cobalt intermediate product prices slightly declined. Supply side, the market has sufficient spot cargo. Demand side, post-holiday downstream purchase demand has not yet recovered, and the overall market appears slightly sluggish. Considering the overall market situation, due to sufficient long-term raw material supply and high costs at downstream cobalt smelters, raw material prices are unlikely to be sustained and may still have some downside room.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711